Collective Brands Inc. : SAUCONY(R) REVEALS THE FUTURE OF RUNNING: THE KINVARA 3

New Kinvara Line Features Minimal Running Shoes and Performance Apparel; Builds on Award-Winning Kinvara, Now Even Better

LEXINGTON, Mass, March 15, 2012 - Saucony, Inc., a unit of Collective Brands (NYSE: PSS), unveiled today the much-anticipated Kinvara 3 line of minimal running shoes and performance apparel that builds on the award-winning Kinvara launched in early 2010, which was among the first minimal running shoes available in the marketplace and positioned Saucony as an industry-leader in the minimal running footwear category.

Defined by the Kinvara, the new collection introduces the all-new Kinvara 3, a lightweight, highly responsive training shoe featuring FlexFilm™ technology -- a thin, flexible film welded onto the upper that stabilizes the foot while reducing layers; the Kinvara TR, a low profile trail running shoe that fuses the award-winning fit and technologies of its namesake with off-road traction, protection and durability; and a range of eye-catching, brightly hued performance apparel items including shorts, tights, shirts, sportops and jackets made of advanced moisture-wicking fabrics, superior fit silhouettes, innovative performance features and FlexFilm™ aesthetics.

"The bottom line is that we want to be part of the runner's run every day," said Richie Woodworth, Saucony brand president. "To succeed in this goal, we need to deliver more than a great shoe, we need to inspire an incredible running experience and our new Kinvara collection is aimed at doing just that. The focal shoe in the line, Kinvara 3, is an ultra-lightweight, yet durable performer with a reengineered outsole that delivers an even smoother transition than its predecessor. Without a doubt, this is the future of running."

Minimal shoes are lightweight and minimally constructed footwear with a lower heel-to-toe offset. The Kinvara 3 weighs only 7.7 ounces (based on a men's size 9). It is a performance training shoe with a 4mm heel-to-toe offset that positions the runner's foot during impact in a way that creates a greater range of motion than traditional running shoes (which typically have a 12mm heel-to-toe offset) for the Gastrocnemius-Soleus-Achilles tendon system, allowing for a more powerful running stride.

After studying wear patterns on thousands of test shoes, Saucony footwear designers adjusted the outsole design on the new Kinvara 3 to increase durability and promote an even smoother transition. XT-900 carbon rubber pods were strategically placed on areas of the Kinvara 3's outsole for enhanced durability without adding weight. The reengineered outsole includes a beveled heel to better facilitate a natural rolling movement from heel-to-toe.

The technology of the Kinvara 3 transfers seamlessly from road to trail in the form of the Kinvara TR, weighing only 8.5 ounces (based on a men's size 9).

"With the success of the Kinvara, the stage was perfectly set for a trail version," said Patrick O'Malley, senior vice president of global product for Saucony. "Runners will be ecstatic with the Kinvara TR: they can now experience the benefits of an industry-leading minimal shoe on their favorite trails."

The Kinvara 3, expected at select specialty run retailers beginning April 26, 2012, will be available in men's sizes 7-13, 14 and 15, and women's sizes 5-12. The suggested retail price of the Kinvara 3 is $100. The Kinvara TR, expected at retail July 1, comes in men's sizes 7-13 and 14 and women's sizes 5-12. The suggested retail price of the Kinvara TR is also $100. The Kinvara apparel collection will be available at select specialty run retailers also July 1 at prices starting at $38.00.

To find a retailer near you, call 800-365-4933 or visit www.saucony.com.

About the Award-Winning Kinvara

The Saucony Kinvara has been recognized with numerous industry awards including: "Best Debut" (Runner's World magazine, Summer 2010); "Gear of the Year" (Outside magazine, Fall/Winter 2010); "Best Shoe in the Performance Category" (The Running Network, Fall 2010); and "Best Debut" (Endurance Sports Media Group, Fall 2010), among others.

About Saucony, Inc.: Saucony, Inc., a subsidiary of Collective Brands, Inc., is a leading global running lifestyle brand that fuses performance, innovation and style to create compelling footwear and apparel with its widely recognized brands Saucony and Saucony Originals. Founded in 1898, Saucony continues to inspire runners everywhere with its award winning innovations, including ProGrid (TM) , PowerGrid (TM) ViZiPRO (TM) and AMP PRO2 (TM) apparel. At Saucony, a good day is when we get to run. A great day is when we inspire someone else to run. For more information, go to www.saucony.com.

About Collective Brands, Inc. (NYSE: PSS) is a leader in bringing compelling lifestyle, fashion and performance brands for footwear and related accessories to consumers worldwide. The company operates three strategic units covering a powerful brand portfolio, as well as multiple price points and selling channels including retail, wholesale, ecommerce and licensing. Collective Brands, Inc. includes Payless ShoeSource, focused on democratizing fashion and design in footwear and accessories through its 4,160-store retail chain, with its brands Airwalk(R), Dexter (R) and Champion (R) and designer collections by fashion designers Christian Siriano, Lela Rose, Isabel Toledo and Silvia Tcherassi; Collective Brands Performance + Lifestyle Group, focused on lifestyle and performance branded footwear and high-quality children's footwear sold primarily through wholesaling, with its brands including Stride Rite (R), Keds (R), Sperry Top-Sider (R) Robeez (R), and Saucony (R), among others; and Collective Licensing International, the brand development, management and global licensing unit, with such youth lifestyle brands as Airwalk (R), Above The Rim (R), Vision Street Wear (R), STRIKEFORCE (TM), Clinch Gear(TM), Sims (R), Lamar (R) and LTD (R), World Snowboarding Championships™ and Hind (R) . Information about, and links for shopping on, each of the Collective Brand's units can be found at www.collectivebrands.com.